NerdWallet (NASDAQ:NRDS) Stock Price Up 4.8% – Here’s Why

NerdWallet, Inc. (NASDAQ:NRDS)’s stock price shot up 4.8% during trading on Monday . The company traded as high as $9.39 and last traded at $9.31. Approximately 455,438 shares were traded during trading, a decline of 21% from the average session volume of 578,049 shares. The stock had previously closed at $8.88.

Analysts Set New Price Targets

NRDS has been the subject of a number of research analyst reports. Zacks Research raised shares of NerdWallet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. KeyCorp decreased their price target on shares of NerdWallet from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Truist Financial lowered their price target on shares of NerdWallet from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, May 11th. Weiss Ratings cut shares of NerdWallet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Finally, Citigroup decreased their price objective on NerdWallet from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NerdWallet currently has a consensus rating of “Hold” and a consensus target price of $12.83.

NerdWallet Trading Up 4.8%

The stock has a market capitalization of $612.60 million, a P/E ratio of 10.01 and a beta of 1.23. The company has a fifty day simple moving average of $8.77 and a two-hundred day simple moving average of $10.08.

NerdWallet (NASDAQ:NRDS) last released its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $222.20 million for the quarter, compared to the consensus estimate of $227.63 million. NerdWallet had a net margin of 8.11% and a return on equity of 18.33%. NerdWallet’s revenue was up 6.2% on a year-over-year basis. As a group, analysts forecast that NerdWallet, Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling at NerdWallet

In related news, major shareholder Topline Capital Partners, Lp sold 454,872 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $9.27, for a total value of $4,216,663.44. Following the transaction, the insider directly owned 3,289,285 shares in the company, valued at $30,491,671.95. This represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 1,961,860 shares of company stock worth $17,862,921 over the last ninety days. Insiders own 52.75% of the company’s stock.

Institutional Trading of NerdWallet

A number of institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its position in shares of NerdWallet by 37.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock worth $43,000 after purchasing an additional 1,054 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of NerdWallet by 9.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,659 shares of the company’s stock valued at $249,000 after purchasing an additional 1,934 shares during the period. JPMorgan Chase & Co. grew its position in shares of NerdWallet by 12.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 19,576 shares of the company’s stock valued at $215,000 after purchasing an additional 2,161 shares during the period. AQR Capital Management LLC increased its stake in NerdWallet by 1.3% during the 4th quarter. AQR Capital Management LLC now owns 184,082 shares of the company’s stock worth $2,494,000 after purchasing an additional 2,316 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in NerdWallet by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,545 shares of the company’s stock worth $482,000 after purchasing an additional 2,447 shares in the last quarter. Institutional investors and hedge funds own 38.81% of the company’s stock.

NerdWallet Company Profile

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.